Banco Santander S.A. Raises Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• Banco Santander S.A. raised its stake in Intuit Inc. by 81.4% during the first quarter, increasing its holdings to 7,516 shares valued at approximately $4.6 million.
• Several research analysts have issued positive ratings for Intuit, with price targets ranging from $789.00 to $900.00, reflecting strong growth expectations.
• Intuit recently announced a quarterly dividend of $1.04 per share, which yields approximately 0.5%, with a payout ratio of 33.77%.

Banco Santander S.A. raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 81.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,516 shares of the software maker's stock after buying an additional 3,372 shares during the quarter. Banco Santander S.A.'s holdings in Intuit were worth $4,615,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INTU. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of Intuit by 11.1% in the first quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 2,000 shares of the software maker's stock valued at $1,228,000 after purchasing an additional 200 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Intuit by 35.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,065 shares of the software maker's stock valued at $6,794,000 after buying an additional 2,900 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Intuit by 3.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 117,935 shares of the software maker's stock valued at $72,411,000 after buying an additional 3,674 shares during the period. UNIVEST FINANCIAL Corp grew its stake in shares of Intuit by 14.1% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 3,296 shares of the software maker's stock valued at $2,023,000 after buying an additional 407 shares during the period. Finally, Commerce Bank grew its stake in shares of Intuit by 3.4% in the 1st quarter. Commerce Bank now owns 25,479 shares of the software maker's stock valued at $15,644,000 after buying an additional 835 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on INTU shares. Citigroup reiterated a "buy" rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Stifel Nicolaus increased their price target on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets increased their price target on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Morgan Stanley increased their price target on Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $356,760.95. The trade was a 79.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total value of $2,026,732.02. Following the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. This trade represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of INTU opened at $776.15 on Friday. The stock has a 50-day simple moving average of $767.11 and a 200-day simple moving average of $662.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $216.51 billion, a PE ratio of 63.00, a PEG ratio of 3.44 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned $9.88 earnings per share. The firm's quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

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